{"id":2610,"date":"2018-07-10T08:00:19","date_gmt":"2018-07-10T12:00:19","guid":{"rendered":"http:\/\/creativethirst.com\/blog\/?p=2610"},"modified":"2024-02-15T10:32:03","modified_gmt":"2024-02-15T14:32:03","slug":"marketplace-analysis-for-selling-dietary-supplements-online","status":"publish","type":"post","link":"https:\/\/creativethirst.com\/blog\/marketplace-analysis-for-selling-dietary-supplements-online\/","title":{"rendered":"Marketplace Analysis for Dietary Supplement Businesses: The Missing Piece"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The dietary supplement marketplace is fickle when it comes to business success.<br \/><br \/>People who buy health products like dietary supplements or the latest weight loss or back pain gadgets are constantly looking for the newest thing.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">They are Googling their health conditions.<span class=\"Apple-converted-space\">&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Devouring articles on WebMD, Doctor Axe, and other sites.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">They are doing endless research that spans several years, with buying in between. And they keep buying different products to solve the same problem.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As a result, They never come to your product completely fresh. They are well-informed and have a high level of <a href=\"https:\/\/creativethirst.com\/blog\/what-the-top-direct-response-marketers-know-about-marketplace-sophistication-and-how-to-use-it-in-the-health-and-wellness-industry\/\">marketplace sophistication<\/a>.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">They have preconceived knowledge and opinions that have been shaped by your competitors.<span class=\"Apple-converted-space\">&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Knowing what they already heard and saw before they arrived on your sales page gives you the edge.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Entering into the conversation your customers have already had on other websites, is how you get it.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To do that, marketplace analysis is your best friend. But make sure you\u2019re doing the right type, because, there are two different ways to do it.<span class=\"Apple-converted-space\">&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><b>Two Types of Marketplace Analysis (one is more important for health supplement brands)<\/b><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">There are two types of marketplace analysis. One is more valuable than the other when it comes to optimizing and improving sales for an already existing business in the health and wellness space.<span class=\"Apple-converted-space\">&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The first is, business marketplace analysis. This is the classic way of evaluating an opportunity. And is more traditionally used before you start a business. It\u2019s used to understand the competitive landscape.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It looks at:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\n<ul class=\"wp-block-list\">\n<li>Market size (current and future)<\/li>\n\n\n\n<li>Market trends<\/li>\n\n\n\n<li>Market growth rate<\/li>\n\n\n\n<li>Market profitability<\/li>\n\n\n\n<li>Industry cost structure<\/li>\n\n\n\n<li>Distribution channels<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The second type is what I call marketing marketplace analysis.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This is the space in which, the market intersects with how people think about your product and their<span class=\"Apple-converted-space\">\u00a0<\/span>lifestyle.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter\"><img loading=\"lazy\" decoding=\"async\" width=\"477\" height=\"188\" src=\"https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2018\/05\/marketplace.png\" alt=\"marketing marketplace\" class=\"wp-image-2608\" srcset=\"https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2018\/05\/marketplace.png 477w, https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2018\/05\/marketplace-300x118.png 300w\" sizes=\"auto, (max-width: 477px) 100vw, 477px\" \/><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">It\u2019s made up of:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\n<ul class=\"wp-block-list\">\n<li>Offers<\/li>\n\n\n\n<li>Hooks \/ Big Ideas<\/li>\n\n\n\n<li>Stories<\/li>\n\n\n\n<li>Emotions<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">It\u2019s in the marketing marketplace analysis where the biggest opportunities for gaps exist.<span class=\"Apple-converted-space\">&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Identifying these gaps is the first step to making your marketing message stand out.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><b>The Marketing Marketplace Gap<\/b><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Marketplace analysis shows you what people see and hear in the market. Enabling you to align with the culture of your market segment.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It starts by identifying the problem from the perspective of your potential customers.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\n<ul class=\"wp-block-list\">\n<li>Understanding the needs of existing customers<span class=\"Apple-converted-space\">&nbsp;<\/span><\/li>\n\n\n\n<li>Why they choose your product over competitors<span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n\n\n\n<li>How they think about your product category<span class=\"Apple-converted-space\">&nbsp;<\/span><\/li>\n\n\n\n<li>And what they think of other marketing messages in your competitive space<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Understanding what\u2019s already being said, and how it\u2019s being said, opens up gaps in the marketplace that are unfilled. Whenever a prospect has a need, even an emotional one, there is an opportunity to fill it.<span class=\"Apple-converted-space\">&nbsp;<\/span><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter\"><img loading=\"lazy\" decoding=\"async\" width=\"757\" height=\"469\" src=\"https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2018\/05\/product-positioning.png\" alt=\"product positioning\" class=\"wp-image-2611\" srcset=\"https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2018\/05\/product-positioning.png 757w, https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2018\/05\/product-positioning-300x186.png 300w\" sizes=\"auto, (max-width: 757px) 100vw, 757px\" \/><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">Insight of markets, customers, competitive positioning are part of how we consistently create value for our clients.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Some of the things we look at include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\n<ul class=\"wp-block-list\">\n<li>The positioning of your product compared to your competitors<span class=\"Apple-converted-space\">&nbsp;<\/span><\/li>\n\n\n\n<li>The value proposition positioning again for you vs. your competition<\/li>\n\n\n\n<li>As well as the level of <a href=\"https:\/\/creativethirst.com\/blog\/what-the-top-direct-response-health-and-wellness-marketers-know-about-tapping-into-marketplace-awareness\/\">marketplace awareness<\/a> and sophistication<span class=\"Apple-converted-space\">&nbsp; &nbsp;<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><b>Avoid The Marketplace Noise Trap<\/b><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">In the dietary supplement space, there are a ton of products that help to support the same health condition.<span class=\"Apple-converted-space\">&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Take a joint pain supplement for example. Some may have a slightly different set of ingredients.<span class=\"Apple-converted-space\">&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Others have a proprietary blend of ingredients, or maybe a different delivery method.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">These are all types of <a href=\"https:\/\/creativethirst.com\/blog\/dietary-supplement-marketing-unique-mechanism\/\">unique mechanisms<\/a>.<span class=\"Apple-converted-space\">&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But in the end there\u2019s an endless amount of options a consumer has for the same condition.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This adds to the average consumers confusion, creating an ocean of \u201cme too\u201d products. If you don\u2019t know what your competitors are saying. Or if you\u2019re saying the same thing as them, your marketing message just becomes more noise.<span class=\"Apple-converted-space\">&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Marketing marketplace analysis will help you avoid falling into this noise trap.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><b>Watch Out For The Marketplace Dive Trap<\/b><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Marketplace analysis is not as easy as it sounds. Often times it gets left out compleatly when approaching an optimization project or it does not go deep enough to uncover the gaps to leverage.<span class=\"Apple-converted-space\">&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Dietary supplement entrepreneurs tend to run right into the doing work without the thinking work. Or they think that the answer to the noise trap is just a good copywriter. Which results in an endless search for the next writer, and the next and the next\u2026 This leads only to lots of wasted money and time.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Optimization is more than just copywriting. Having a clear view of the marketplace, adds focus to all of your conversion optimization efforts.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The trap most conversion rate optimization practitioners and agencies fall into, is diving straight into the page without doing the marketplace analysis work.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The result is heuristics driven optimization. Heuristics is simply a \u201crule of thumb\u201d and it doesn\u2019t go any deeper than just looking at a page.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Sure, slapping on some paint can make a place look better. And just using best practices can get you a conversion lift (sometimes).<span class=\"Apple-converted-space\">&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But, it\u2019s never the game changing lift you\u2019re searching for.<span class=\"Apple-converted-space\">&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">How could it be? All you did was improve the surface.<span class=\"Apple-converted-space\">&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you\u2019re starting out from a low point, best practices can get you somewhere but it won\u2019t be what gets you to the next higher level.<span class=\"Apple-converted-space\">&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For that you need to understand the structure and fundamentally shift how you approach optimization. <span class=\"Apple-converted-space\">&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><b>Getting The Message to Market Match Right<\/b><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">People buy health products differently than any other product. They are driven by the buying forces of Trust, Belief, Desire and Hope.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Marketing marketplace analysis uncovers how your competitors are filling those forces. Which in turn, tells you what people are seeing and hearing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Without doing marketing marketplace analysis your message to market match is going to be a me-too clone of everyone else in the market. This leads to mistrust, and inaction on the part of your prospects. They get put on an endless loop of research and inaction. Solving the same health condition or losing the same 7 pounds over and over.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But, once you understand where the market is, you can align with it, to help more people and have a bigger impact in the world.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignleft size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"250\" height=\"375\" src=\"https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/revenue-ceiling-250.jpg\" alt=\"\" class=\"wp-image-5168\" style=\"width:190px;height:auto\" srcset=\"https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/revenue-ceiling-250.jpg 250w, https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/revenue-ceiling-250-200x300.jpg 200w\" sizes=\"auto, (max-width: 250px) 100vw, 250px\" \/><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\"><strong>Breakthrough The Supplement Revenue Ceiling<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This diagnostic reveals the specific bottlenecks limiting your supplement brand&#8217;s revenue growth and provides a clear optimization pathway for breakthrough.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-left is-layout-flex wp-container-core-buttons-is-layout-63375db1 wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button aligncenter is-style-fill\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/creativethirst.newzenler.com\/f\/break-through-the-supplement-revenue-ceiling-1\">GET YOUR DIAGNOSTIC<\/a><\/div>\n<\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-4fc3f8e1 wp-block-group-is-layout-flex\">\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-8f761849 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-full is-resized\"><a href=\"https:\/\/hsbm.buzzsprout.com\"><img loading=\"lazy\" decoding=\"async\" width=\"392\" height=\"380\" src=\"https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/health-supplement-mastery-podcast-logo.png\" alt=\"Health Supplement Business Mastery Podcast\" class=\"wp-image-4566\" style=\"width:194px;height:auto\" srcset=\"https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/health-supplement-mastery-podcast-logo.png 392w, https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/health-supplement-mastery-podcast-logo-300x291.png 300w\" sizes=\"auto, (max-width: 392px) 100vw, 392px\" \/><\/a><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p class=\"wp-block-paragraph\">Listen to the <a href=\"https:\/\/hsbm.buzzsprout.com\" target=\"_blank\" rel=\"noreferrer noopener\">Health Supplement Business Mastery Podcast<\/a> for for dietary supplement entrepreneurs and marketers. <\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-8f761849 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-full is-resized\"><a href=\"https:\/\/podcasts.apple.com\/gb\/podcast\/health-supplement-business-mastery\/id1501188717\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"400\" height=\"150\" src=\"https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/apple-podcast.png\" alt=\"\" class=\"wp-image-4567\" srcset=\"https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/apple-podcast.png 400w, https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/apple-podcast-300x113.png 300w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/><\/a><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-full is-resized\"><a href=\"https:\/\/open.spotify.com\/show\/6tzo0If1DvE5QMJaAPjrRY\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"373\" src=\"https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/spotify-podcasts.png\" alt=\"Listen to the health supplement business mastery podcast on Spotify\" class=\"wp-image-4569\" srcset=\"https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/spotify-podcasts.png 1000w, https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/spotify-podcasts-300x112.png 300w, https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/spotify-podcasts-768x286.png 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-large is-resized\"><a href=\"https:\/\/feeds.buzzsprout.com\/889189.rss\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"260\" src=\"https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/google-podcast-1024x260.png\" alt=\"Listen to the health supplement business mastery podcast on Google Podcasts\" class=\"wp-image-4568\" srcset=\"https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/google-podcast-1024x260.png 1024w, https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/google-podcast-300x76.png 300w, https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/google-podcast-768x195.png 768w, https:\/\/creativethirst.com\/blog\/wp-content\/uploads\/2023\/11\/google-podcast.png 1072w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The dietary supplement marketplace is fickle when it comes to business success. People who buy health products like dietary supplements or the latest weight loss or back pain gadgets are constantly looking for the newest thing.\u00a0 They are Googling their health conditions.&nbsp; Devouring articles on WebMD, Doctor Axe, and other sites.\u00a0 They are doing endless&hellip; <a class=\"more-link\" href=\"https:\/\/creativethirst.com\/blog\/marketplace-analysis-for-selling-dietary-supplements-online\/\">Continue reading <span class=\"screen-reader-text\">Marketplace Analysis for Dietary Supplement Businesses: The Missing Piece<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[46,64],"tags":[],"class_list":["post-2610","post","type-post","status-publish","format-gallery","hentry","category-marketing","category-supplement-marketing","post_format-post-format-gallery","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Marketplace Analysis for Dietary Supplement Businesses<\/title>\n<meta name=\"description\" content=\"How to optimize and improve sales for an existing nutritional business in the health and wellness supplement space.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/creativethirst.com\/blog\/marketplace-analysis-for-selling-dietary-supplements-online\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Marketplace Analysis for Dietary Supplement Businesses\" \/>\n<meta property=\"og:description\" content=\"How to optimize and improve sales for an existing nutritional business in the health and wellness supplement space.\" \/>\n<meta property=\"og:url\" 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